Bangalore: The board of Housing.com has fired co-founder Rahul Yadav as CEO, bringing to an end a tumultuous relationship at one of India’s most-watched startups.
In a board meeting on Wednesday at Housing.com’s headquarters in Mumbai, the company cited his “behaviour towards investors, partners and the media” as the reasons for his ouster. “The board believed that his behaviour is not befitting of a CEO and is detrimental to the company,” said a person aware of what transpired at the board meeting.
Yadav, an IIT-Bombay dropout who started the real estate with collegemates in 2012, will have no further ties to the company. He was asked to leave the premises immediately after the meeting.
Anticipating violence, the lawyers for main investor SoftBank had called in the local police to help in case of any resistance by Yadav, but he left without any incident.